According to Ted Bauman, most people care about tax because it helps them reduce their disposable income. However, taxes have become so high in the recent few years for middle income earners, thanks to the resurgence of credit markets controlled by few rich Americans Bauman argues that the availability of cheap credit artificially inflates the price of education, housing and other basic commodities. And since the US economy is majorly based on debts, people have to part with a lot of money to pay for these basic commodities plus the taxes that come with them.
But why is the economy so debt-based? According to Bauman, the high number of debts witnessed in the economy is due to the income and wealth inequality that has plagued the country for many years. The rich have taken over the economy and are currently exercising their financial muscle in the consumer lending market. This has created a scenario where the prices of basic commodities increase relative to the rate of lending on crunchbase.com. And since higher prices of leads to more borrowing, the cycle continues. This in turn increases the amount of taxes on basic commodities.
About Ted Bauman
Ted Bauman is the marketing development manager at ABB Enterprise Software, a position he has been holding since he resigned as the director of risk management at SouthStar Energy Services. He has also worked as a manager of business consulting at Sapient and a business development manager at Mirant. Bauman has over 25 years of managerial experience, which makes him one of the most skilled business executives in Atlanta, Georgia. He is also a prolific writer and researcher. He has written so many articles in the financial sector according to ezinearticles.com.
Bauman was born in Washington, D.C. and brought up in Maryland. He moved to South Africa to study in the University of Cape Town where he graduated with a master’s degree in History and Economics. After graduating, he was absorbed by the government of South Africa as a financial consultant. While in South Africa, Bauman traveled extensively, visiting Asia, Europe and Africa. Alongside other like-minded professionals, Bauman founded Slum Dwellers International, a South African company that has helped over 14 million dwellers in 35 countries.
Due to his hard work and extensive knowledge and skills in the financial sector, Bauman has earned a lot of respect among his peers and professional organizations. His work has been cited in several books, some of which have gained international recognition according to plus.google.com. His articles have also been published in various journals, covering topics such as microfinance, small enterprise development, environment and urbanization. He recently wrote a popular book known as “Where to Stash Your Cash.”
Find more about Ted Bauman: https://medium.com/@TedBauman
— Ted Bauman Guru (@Ted_B_Guru) November 20, 2017